About 32 years ago, Namibia Post Limited (NamPost) had assets of roughly N$69million and has now grown these assets to N$8.1 billion, Festus Hangula, Chief Executive Officer of NamPost said this week on the occasion of the launch of NamPost’s digital channels.
“In 2009, the assets were N$1.5 billion, so there has been significant growth over the past ten years. Notably, a significant portion of those assets are financial assets of the savings bank,” he said.
Hangula was speaking subsequent to launching a NamPost banking App, EFT capability, giving online access to the NamPost account using the App and introducing balance enquiry ability and make a payment on the App.
“For savings bank account holders, especially savings and transactional accounts, the need access to their funds to transact, pay bills, send money, etc. It is in that context that today we are giving them a convenient digital platform to transact. Well, this type of journey is not foreign to us. We have gone through major transformations before where we embraced technology. In 2006, we were brave enough to introduce a sophisticated SmartCard. It took the Namibian financial market roughly ten years to introduce chip-based cards. In 2006, we introduced biometric verification, it is only recently that the financial services banks in particular are talking about the possibilities,” Hangula said.
He went on to say that the launch of the Digital Banking Channels is not something done in isolation as it is a component of rolling out NamPost’s digital strategy code named “Project Sky”.
“The project derives from our four strategic goals; namely to develop and maintain a high-performance culture, transform the business of NamPost, be more customer centric, maintain and strengthen financial sustainability,” he said.